Speaking after the 3-1 home defeat to fellow strugglers Valenciennes on Saturday, Ravanelli announced that his brief stint in charge of the Ligue 1 outfit was at an end.
"It was my last game," he said.
"The club sacked me. Unfortunately, the president has made the decision. I still want to thank him and the club and the supporters."
The Italian took over in the close-season but has overseen just one win in 12 matches, leaving Ajaccio second from bottom in the table, with Saturday's defeat their fourth in succession.
President Alain Orsoni explained afterwards that the decision had not been taken lightly and that further developments would be announced after the weekend.
"This was not an easy decision for many reasons," he said.
"First, because I enjoyed Fabrizio as a man.
"There will be a press conference scheduled for Monday. There will be an interim and then a (full-time) coach."
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